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N <br />• CITY COUNCIL <br />OF THE CITY OF <br />CHARLOTTESVILLE, VIRGINIA <br />Resolution Adopted at a Meeting <br />WHEREAS, Carlton Limited Partnership, a Virginia limited <br />partnership ("Carlton"), is the owner of a parcel of land con- <br />taining 10.496 acres, more or less, situated in the City of <br />Charlottesville, Virginia ("City") at the intersection of Carlton <br />Road and Carlton Avenue, along the southern boundary_ of the <br />Chesapeake & Ohio Railway right-of-way, which land is commonly <br />known and referred to as the Barnes Lumber Corporation property <br />(the "Property"); and <br />WHEREAS, the Property is one of the very few remaining <br />tracts of land located within the city limits of the City that is <br />available for development; and <br />WHEREAS, Carlton is willinq to sell the Property to the <br />• Industrial Development Authority of the City of Charlottesville, <br />Virginia ("Authority") on the terms and conditions set forth in <br />that certain Purchase Agreement dated December 9, 1986 between <br />Carlton, as Seller, and the Authority, as Purchaser, a copy of <br />which agreement has been presented at this meeting for review by <br />the members of the City Council; and <br />WHEREAS, Jefferson National Bank, a national banking <br />corporation ("Jefferson") is willing to purchase a portion of the <br />Property for development of an office/warehouse facility to house <br />Jefferson's operations center, purchasing division, security <br />division and some storage facilities, all on the terms and con- <br />ditions set forth in that certain Development Agreement dated <br />December 9, 1986 between the Authority and Jefferson, a copy of <br />which agreement has been presented at this meeting for review by <br />the members of the City Council; and <br />WHEREAS, F. Warren Martin and Jack M. Horn ("Martin & <br />Horn") are willing to purchase a portion of the Property for <br />development of a 8,000 square foot office building for <br />Martin/Horn, Inc. and 17,500 square feet of condominium space, <br />all on the terms and conditions set forth in that certain Land <br />Purchase and Development Agreement dated December 9, 1986 between <br />the Authority and Martin & Horn, a copy of which agreement has <br />been presented at this meeting for review by the members of the <br />City Council; and <br />• WHEREAS, at a meeting of the Authority duly called and <br />held on December 9, 1986, the Authority found that the acquisi- <br />tion of the Property by the Authority and subsequent sales of <br />